D-Wave Quantum (NYSE:QBTS) Director Sells $158,340.00 in Stock

D-Wave Quantum Inc. (NYSE:QBTS) Director Kirstjen Nielsen sold 7,000 shares of the stock in a transaction on Wednesday, December 3rd. The stock was sold at an average price of $22.62, for a total transaction of $158,340.00. Following the transaction, the director directly owned 112,673 shares in the company, valued at approximately $2,548,663.26. This represents a 5.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

D-Wave Quantum Stock Down 6.1%

QBTS traded down $1.76 during midday trading on Friday, hitting $26.97. The company had a trading volume of 38,033,954 shares, compared to its average volume of 32,746,868. The stock’s 50 day moving average price is $29.60 and its 200 day moving average price is $21.67. D-Wave Quantum Inc. has a 52 week low of $3.71 and a 52 week high of $46.75. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of -19.98 and a beta of 1.57. The company has a quick ratio of 54.49, a current ratio of 54.68 and a debt-to-equity ratio of 0.05.

D-Wave Quantum (NYSE:QBTS) last released its quarterly earnings data on Thursday, November 6th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.02. The company had revenue of $3.74 million for the quarter, compared to analysts’ expectations of $3.03 million. D-Wave Quantum had a negative net margin of 1,651.81% and a negative return on equity of 97.58%. The business’s revenue for the quarter was up 105.6% compared to the same quarter last year. On average, research analysts anticipate that D-Wave Quantum Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Trading of D-Wave Quantum

Several institutional investors have recently made changes to their positions in QBTS. Allworth Financial LP raised its holdings in shares of D-Wave Quantum by 40.7% in the third quarter. Allworth Financial LP now owns 10,362 shares of the company’s stock valued at $256,000 after purchasing an additional 2,999 shares during the last quarter. Swiss Life Asset Management Ltd bought a new stake in D-Wave Quantum in the 3rd quarter worth about $345,000. Strategic Advocates LLC increased its stake in D-Wave Quantum by 6.5% in the 3rd quarter. Strategic Advocates LLC now owns 33,715 shares of the company’s stock valued at $833,000 after buying an additional 2,050 shares during the last quarter. CIBC Bancorp USA Inc. bought a new position in shares of D-Wave Quantum during the 3rd quarter worth approximately $814,000. Finally, WBI Investments LLC purchased a new position in shares of D-Wave Quantum in the 3rd quarter worth approximately $844,000. Institutional investors own 42.47% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on QBTS shares. Wall Street Zen upgraded D-Wave Quantum from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Rosenblatt Securities increased their target price on D-Wave Quantum from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Friday, November 7th. Canaccord Genuity Group lifted their price target on shares of D-Wave Quantum from $20.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, November 7th. Weiss Ratings restated a “sell (d-)” rating on shares of D-Wave Quantum in a report on Tuesday. Finally, B. Riley raised their price objective on shares of D-Wave Quantum from $22.00 to $33.00 and gave the company a “buy” rating in a research note on Monday, September 22nd. Twelve research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $29.85.

About D-Wave Quantum

D-Wave Quantum Inc develops and delivers quantum computing systems, software, and services worldwide. The company offers Advantage, a fifth-generation quantum computer; Ocean, a suite of open-source python tools; and Leap, a cloud-based service that provides real-time access to a live quantum computer, as well as access to Advantage, hybrid solvers, the Ocean software development kit, live code, demos, learning resources, and a vibrant developer community.